Essential Protection: Travel Insurance Over 65

Key considerations for older people travelling...

For people over 65, insurers typically raise their rates and require more information and declarations. As we get older, we must carefully consider the travel insurance we choose to be sure we are sufficiently covered and have the coverage we want. In this article, we’ll go through some of the key factors you should take into account when purchasing travel insurance.

Age Limits

As previously stated, age is significant to insurers. There are insurance age limits for both younger and older people. Most insurers will ask for additional declarations for people over 65, and many will only cover people until the age of 80 or 85. It is possible to obtain insurance after the age of 80, but it would most certainly be more expensive and necessitate a specialised policy. When looking into travel insurance policies, make sure to check the age limit and ensure you are eligible for coverage.

Medical Declarations

Knowing that we have medical coverage while travelling is critical for our safety and peace of mind. As we get older, the risk of injury or illness grows, as does the possibility of having pre-existing medical issues that may necessitate medical attention when travelling. This is why insurers ask for pre-existing condition statements when you apply. Not all insurers will cover all pre-existing conditions, so read the fine print to ensure that you are protected for any pre-existing condition. If in doubt, contact the insurer's helpline before making a purchase.

Always declare all pre-existing conditions, even if you don't think they're important or that you'll require medical coverage for them. If you file a claim later and insurers discover you had unreported pre-existing conditions, they have grounds to deny your claim - even if the condition is unrelated to the reason for your claim!

The Stability Period

The 'stability period' is one of the insurance terms that you need to know if you have any pre-existing medical condition. The stability period is a period of time during which your condition has not changed. In other words, your condition has been 'stable' for a particular period of time. This time span is determined by the insurer and could be 90, 180, or even 365 days. Sometimes, there will be different ‘stability periods’ for different conditions. During the stability period, there can be no changes to your condition. This includes visiting a doctor for a routine checkup related to that condition or any change to your medication.

Coverage

It is vital to understand what your insurance covers. Don't assume something is covered unless you've read the policy. You want a policy that provides comprehensive medical coverage, which includes emergency medical treatment, treatment for any pre-existing conditions, hospitalisation, and medical evacuation. You should also ensure that the activities you wish to participate in are covered. Do you intend to participate in any adventure activities, such as parasailing, swimming with wildlife, or hot air ballooning? These may not be covered. Do you want to travel to a remote location for a hike, camping trip or safari? Find out if your insurance covers you there.

Duration of Coverage

Your insurance policy may have a duration clause depending on the location of your trip. This limits the amount of time you can be covered while travelling and may affect the length of your trip. Insurers understand that the longer you travel, the more probable it is that you may require care or help. For older people, the likelihood is increase so they may minimise the coverage duration. Check to ensure that your policy covers you for the entire time of your intended travel.

Trip Cancellation and Interruption

Older people may have more unexpected events that can cause them to cancel or shorten their trip. Trip cancellation and interruption coverage can help cover non-refundable trip costs, as well as expenses incurred due to an unexpected change in travel plans. If this is important be sure you know what types of events are considered eligible for cancellation or interruption, as well as the proof and documentation required to file a claim.

Exclusions

Every travel insurance policy has restrictions and limitations. These can be things like locations which are not covered or activities. However, there may be other exclusions related to political instability, natural disasters or conflict that you may not have considered. Consider if you’re travelling during an election, or if there is the likelihood of severe weather, like hurricanes or heat waves. Understanding exclusions can help you avoid unpleasant surprises if you ever need to file a claim.

A final word of caution. Many people have been using the same insurance coverage for years without reading the new, updated annual policy. This can lead to incorrect assumptions about what you may be covered for lead to surprise when you discover you have passed an age limit or haven’t declared a pre-existing condition. Make sure to frequently evaluate any travel insurance coverage you have in order so you know that your travel is as safe and healthy as possible. By doing this, you’ll know that you have adequate coverage and, most importantly, peace of mind when you're away from home.